By: Abdullah Bedeir
Cairo – Mubasher: Development and Engineering Consultants Co (TAMEER) aims to generate EGP 2 billion in sales of its Azad project in New Cairo, the company’s managing director Antoine El-Khoury said.
Covering an area of 19 feddans, the new development will feature 47 buildings comprising a total of 350 units, El-Khoury said in a press conference on Monday.
The Cairo-based firm has sold 470 units, representing 90% of Azad’s total units, he pointed out.
Delivery is scheduled to begin within two weeks and end during 2020, he noted.
It is noteworthy to mention that during the January-September period of 2019, the company’s net profits fell to EGP 14.3 million, compared to EGP 69.3 million in the year-ago period, including minority shareholders’ rights.
Sales declined to EGP 115.1 million in the first nine months of 2019, compared to EGP 167.9 million in the corresponding period a year earlier.